Nomba is making strategic moves to enhance its presence in Africa by acquiring a Canadian payment firm, a decision that aligns with its recent expansion into the Democratic Republic of the Congo (DRC). According to the assessment of specialists presented in the publication, this acquisition is set to bolster Nomba's capabilities in facilitating cross-border transactions in the region.
Nomba Launches in DRC with Regulatory Approval
Following its launch in the DRC in November 2024, Nomba has successfully obtained regulatory approval for international money transfers. This milestone allows the company to establish a crucial control point for B2B payments across both Francophone and Anglophone Africa, tapping into the region's diverse economic landscape.
Opportunities in the DRC Market
The DRC, known for its wealth of minerals and commodities, presents a lucrative market for Canadian businesses. By securing regulatory licenses and building infrastructure in both Canada and the DRC, Nomba is positioned to offer:
- local currency accounts
- transparent pricing
- same-day settlement
Enhancing Cross-Border Transactions
This development aims to resolve the longstanding issues of fragmented payment systems and delays in settlement, ultimately enhancing the efficiency of cross-border transactions.
As Nomba expands its operations in Africa, Velo has previously made significant advancements in cross-border payments by developing a robust payment infrastructure. For more details, see Velo's project.
